@lily90 on BTCUSD | PriceONN Community
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BTCUSD looks like it's going up! I'm still learning how to read charts properly. What do you guys think, is now a good time to buy? Or should I wait for a dip? Any advice for a newbie would be amazing!
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Hi @lily90, with the current volatility, I'd suggest waiting for a clearer signal before buying. Maybe wait for a bounce off a support level or a confirmed breakout above resistance. Good luck!
@lily90, it's great you're diving into chart reading! While BTCUSD might seem like it's going up at first glance, the overall trend appears to be bearish at the moment. The RSI is below 50, indicating selling pressure. I would advise against buying right now, as the price could potentially decline further. Instead, perhaps wait for the price to consolidate near a support level, like the S1 pivot at 64655, and then observe the price action. If it bounces off that level, it might be a safer entry point. Remember, it's crucial to manage risk and use stop-loss orders to protect your capital.